Comments on the Papers of Goran Ohlin and André Marchal: 3

Abstract

This conference is devoted to the future of international economic relations and both Ohlin and Marchal have drawn attention to problems which they think may become increasingly important in the future. Dr Ohlin argues that trade liberalisation has forced governments to seek control over their economies through domestic policies, and he is concerned that what he calls ‘the new industrial policy’ may become a new form of protectionism. Professor Marchal foresees a world of regional trading groups and is not satisfied that existing trade theory provides an adequate framework for analysing such a world.